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Bnamericas Published: Wednesday, October 05, 2022 Transmission ESG Transmission Lines Power purchase agreement (PPA) Energy Storage Politics Electromobility Private Investment Photovoltaic Climate change Clean Energy Transition Onshore Wind Coal Generation Legislation & Regulation Show 9 More Hide 9 Topics
The capacity will be for the Oasis de Atacama solar-plus-storage project in Chile, which is the ''world''s largest energy storage'' project with a total 11GWh of battery capacity and 2GW of solar PV.
The project has seen its capacity increase – from the original 4.1GWh of storage and 1GW of solar – last month when the Spanish IPP acquired 1GW of solar PV capacity and 1GW of energised line from gas and oil giant Repsol and renewables developer Ibereólica.
"The expansion of Oasis de Atacama, the world’s largest battery project, aligns with Grenergy’s commitment to meeting the region’s energy demands while promoting renewable energy integration at scale," says a spokesperson for Grenergy. The spokesperson added that the 1GW interconnection line that is built and energized will "facilitate the connection process of the projects under development".
Oasis de Atacama is a project being built in seven phases, as told by a spokesperson from Grenergy to Energy-storage.news. BESS capacity for the first four phases have already been secured by the IPP, with the first three covered by a 3GWh supply agreement with BYD, which was extended in September. CATL''s supply agreement will cover the entirety of phase four.
For the fourth phase of the project, CATL will provide over 220 of its EnerX model containers, which will contain more than 7,100 modules. It also allows the storage of more capacity in less space, while using LFP (lithium iron phosphate) technology.
"The collaboration with CATL is a fundamental milestone to consolidate Oasis de Atacama. We are excited to have signed this first contract and to be working with the world’s leading battery manufacturers on a project that will make industry history," said David Ruiz de Andrés, Executive Chairman of Grenergy.
Moreover, the Spanish IPP told Energy-storage.news that the timeline for the first four phase is as follows: "The first phase of the Oasis de Atacama project is expected to be operational by the end of 2024, phases two and three will be connected by 2025." By 2026, the first four phases of the projects are expected to be fully operational, said the Grenergy spokesperson.
The Oasis de Atacama solar-plus-storage project was unveiled last year by the company and will require an overall investment of US$2.3 billion. Financing for the first two phases have already been secured with a US$354 million ''green loan'' with complementary credit lines from financial entities BNP Paribas, Natixis, Société Générale, The Bank of Nova Scotia and SMBC.
Chile is currently a hotbed of grid-scale energy storage activity, with huge levels of solar curtailment, massive energy price volatility and regulatory reforms helping to drive the need for more storage. See all recent coverage of the country here.
Nine projects pairing solar or wind with energy storage submitted environmental impact assessments (EIAs) in Chile last month, totalling well over 2GWh of capacity, by companies including Engie, EDF and Sonnedix.
The projects are the latest in a flurry of renewable energy development activity in the country as it seeks to hit 70% renewable electricity generation by 2030, and come as our publisher Solar Media prepares to host theEnergy Storage Summit Latin America in the capital Santiago next week (October 17-18).
The nine projects total US$1.7 billion of investment, 1,366MW of renewable energy generation and 2,027MWh of energy storage capacity at the very least, with two not revealing exact figures. Planned commercial operation dates (COD) for the projects are mostly between 2026 and 2027, with one set for 2030.
The largest among them is the Wayra Wind Farm project, being developed by the renewables arm of global utility EDF, EDF Renewables. It proposes combining wind and solar PV arrays into 557MW of generation with up to 750MWh of energy storage capacity, and is targeting a 2027 COD. A full table of the projects compiled by Energy-Storage.news is further down.
The total energy storage capacity for the projects submitted in September is likely to be significantly higher than 2,027MWh as the two that did not provide figures are substantial: the 167MW Los Portones and 144MW Fenix Wind Farm projects, both combining wind and storage.
Fenix is also being developed by EDF Renewables, while Portones is from another French-headquartered multinational utility and independent power producer (IPP), Engie. The latter is already building a 418MWh battery energy storage system (BESS) at an existing solar PV plant.
As part of its decarbonisation Chile isseeking multiple gigawatts of energy storageto be deployed by 2030, andpassed a bill late last yearto allow standalone projects to be remunerated in the country’s capacity market.
Most projects are nonetheless being paired with generation with huge opportunities to balance out peaks and troughs in generation available. Chile has the highest intraday spreads in the world, according to developer Flexen which recently discussed its 1GW standalone BESS projects with Energy-Storage.news.
Other multinational energy firms are highly active in the Chile market alongside EDF and Engie, with the Chile arm of US-headquartered AES recently turning Latin America’s largest BESS online while Italy-based Enel started building a 67MW BESS in August.
Returning for the second edition in Santiago, Chile, theEnergy Storage Summit Latin Americawill explore opportunities in countries such as Chile, Peru, Colombia, Argentina, Brazil and Mexico.
Join Solar Media on October 17-18 to meet with investors, policy makers, developers, utilities, network operators, technology providers, EPCs, consultants, law firms and more to make sure you are a part of the rapidly evolving storage landscape in Latin America.
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As the photovoltaic (PV) industry continues to evolve, advancements in Santiago off-grid energy storage have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
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